04 March 2017, India:
Lydia Jett of SoftBank Group has been appointed as one the Board of directors of the Jasper Infotech- parent company of Snapdeal as per the report by The Mint.
Jett has been with Softbank since September 2015 and currently on the Board of Tokopedia, Fetch, Robotics, inMobi and Quixey along with Snapdeal.
Lydia Jett completed her B.A. in Economics and Government from Smith College and an MBA from the Stanford Graduate School of Business.
Just a couple of days back, Masayoshi Son-led SoftBank has withdrawn its interest in offering $150-200 million debt financing to Snapdeal. The main reason for the sudden withdrawal of the funding is believed to be the rift amongst the investors- SoftBank, Kalaari capital and Nexus Venture Partners.
As per the understanding, SoftBanks owns 33% stakes in the Jasper Infotech- parent company of Snapdeal, while Nexus Venture Partners owns 10% stakes followed by Kalaari Capital at 8%. Both the founders- Kunal Bahl and Rohit Bansal owns 6.5% stakes in the company.
SoftBank Group (SBG) partners with the most ground-breaking growth-stage companies to turn ingenious ideas into impactful businesses. With large stakes in companies like Sprint, Alibaba, Snapdeal, SoFi and Coupang. (Image- Twitter)